FedEx (NYSE:FDX) Stock Rating Upgraded by JPMorgan Chase & Co.

FedEx (NYSE:FDX) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Wednesday. The firm presently has a $460.00 price target on the shipping service provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 15.03% from the company’s current price.

A number of other equities research analysts have also recently commented on FDX. The Goldman Sachs Group increased their target price on shares of FedEx from $364.00 to $369.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Stephens restated an “overweight” rating and issued a $435.00 target price on shares of FedEx in a report on Tuesday, April 14th. Susquehanna raised their target price on FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a research note on Friday, March 20th. Citigroup initiated coverage on shares of FedEx in a research report on Thursday, May 21st. They set a “buy” rating and a $443.00 price objective for the company. Finally, Stifel Nicolaus boosted their target price on shares of FedEx from $425.00 to $442.00 in a report on Friday, April 10th. Nineteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $400.69.

FedEx Price Performance

Shares of FedEx stock opened at $399.90 on Wednesday. The stock has a market capitalization of $95.42 billion, a P/E ratio of 21.28, a PEG ratio of 1.49 and a beta of 1.29. The business has a 50 day simple moving average of $372.83 and a two-hundred day simple moving average of $335.39. FedEx has a 12 month low of $214.82 and a 12 month high of $404.03. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. During the same period in the previous year, the company posted $4.51 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. As a group, analysts predict that FedEx will post 19.72 EPS for the current fiscal year.

Insider Buying and Selling at FedEx

In related news, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the transaction, the executive vice president owned 19,403 shares in the company, valued at approximately $7,110,229.35. The trade was a 51.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the sale, the executive vice president owned 11,052 shares in the company, valued at approximately $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,104 shares of company stock valued at $17,599,006 over the last three months. 0.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FedEx

Several large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in FedEx by 11.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,958 shares of the shipping service provider’s stock valued at $8,243,000 after acquiring an additional 3,514 shares in the last quarter. Savant Capital LLC grew its holdings in FedEx by 32.5% during the 3rd quarter. Savant Capital LLC now owns 40,019 shares of the shipping service provider’s stock worth $9,437,000 after acquiring an additional 9,806 shares in the last quarter. National Pension Service grew its holdings in FedEx by 3.9% during the 3rd quarter. National Pension Service now owns 633,376 shares of the shipping service provider’s stock worth $149,356,000 after acquiring an additional 23,563 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in FedEx in the third quarter valued at $171,960,000. Finally, Applied Finance Capital Management LLC purchased a new position in shares of FedEx in the 3rd quarter valued at about $727,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.